March 1, 2008 - NEW YORK -- Hundreds of New Yorkers and
tourists alike flocked to The Plaza Hotel on Saturday for the
landmark's reopening after a three-year, $400 million renovation.

"They say this place is the world's most famous hotel," said
doorman Freddy Davila, who worked for the hotel for 15 years until it
closed in 2005. "It's wonderful to be back," he said as he welcomed
visitors up the red-carpeted steps.

"We just had to see inside," said Owen Mathieu, visiting from
Marblehead, Mass. "We've seen it in the movies. Everybody's heard of
it."

The Plaza, a National Historic Landmark overlooking Central
Park, first opened in 1907. Marilyn Monroe was photographed here, and
guests included the Beatles and Frank Lloyd Wright. Its ballroom was
the setting of Truman Capote's "Black and White Ball" and the wedding
of Richard Nixon's daughter Julie. Scenes were shot at the hotel for
movies including "North by Northwest," "Barefoot in the Park,"
"Crocodile Dundee" and "Home Alone 2." Owners have included Conrad
Hilton and Donald Trump.

Many fans also know the hotel from Kay Thompson's children's
books about a naughty little girl named Eloise who lives at The Plaza.
A portrait of Eloise hung in the lobby for nearly 50 years; hotel
officials say it will be back later this spring.

The Plaza's current owners, Elad Properties, initially planned
to convert all guest rooms into condominiums, but the plan was opposed
by preservationists and the hotel workers' union. Negotiations with
Mayor Michael Bloomberg led to a deal that resulted in 282 hotel rooms,
down from the original 805, and 181 apartments.

Rates for the hotel rooms start at $1,000 a night.

"When you hear $1,000 a night for a room it might seem like a
lot, but in the end it's not about the price, it's about the
experience," said Bill Carroll, a professor at Cornell University's
School of Hotel Administration. "It's such a unique destination. It
really is about the cachet." He honeymooned at The Plaza 41 years ago.

The restored features include gleaming mosaic floors,
sparkling chandeliers and gold-trimmed ceilings. "They've done a nice
job," said Ken Johns of Dallas, who remarked that it had gotten "a
little dingy" before it closed.

A highlight is the stained-glass ceiling, called a laylight,
in the Palm Court dining room near the lobby. It had been replaced in
the 1940s by a plaster ceiling, so "it hasn't been seen in most
people's lifetimes," said Sarah Carroll, director of preservation for
the city's Landmarks Preservation Commission, which worked with the
owners.

Glass shards and old photos were all researchers had to go on
to re-create the laylight. Carroll called the result -- a backlit
yellow-and-green geometric design trimmed with roses -- "a perfect
crown for that room."

A new Champagne Bar in the lobby offers cocktails, champagne
by the glass ($25-$60) or by the bottle, up to $3,350 for a magnum.

The famed Oak Bar will be back in service in time for the May
10 grand opening -- Saturday was considered a soft opening.

General manager Shane Krige said the renovated guest rooms
"bridge the world between the old and the new" with flat-screen TVs,
electronic key cards, iPod docks and digital touch screens that let
guests change lighting and temperature or call for assistance. Touches
of old-fashioned opulence include faucets plated with 24-karat gold,
mosaic bathroom floors and white-gloved butlers, one per floor, on call
24 hours.

Guests of all ages can request an "Eloise" bubble bath, with
milk and cookies.

Ruthann Picerno of Lyndhurst, N.J., checking in with two
friends, said she was thrilled to be among the first guests. "I wanted
to stay here since I was 17. When they closed, I was crushed."

All but one residential unit has been sold, including one that
went for $50 million. The Plaza Residences got some bad publicity last
week, however, when Joanna Cutler, renting an apartment from an owner,
said she was trapped overnight in a garbage disposal room by a stuck
door. She was freed by a worker who heard her screams.

The Plaza apologized, but Cutler's lawyer, Susan Karten, said
in a phone interview that she was filing a lawsuit.

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